Pennsylvania generates $3.38m in tax revenues from fantasy sports

Pennsylvania’s Gaming Control Board has generated a total of US$3.38m in tax revenues during the first full year of collection on fantasy sports.

The total revenue generated through such contests over the past 12 months was $22.54m.

Starting last year, fantasy sports operators in the state were required to become licensed and a 15 per cent tax take was imposed on adjusted revenues.

The largest contributor in tax over the year was DraftKings, with adjusted revenues of $11.55m generating $1.73m for the commonwealth.

Next was FanDuel ($1.027m and $1.54m respectively), followed by Draft ($320k and $48k), Fantasy Football Players Championship ($184k and $27k) and Sportshub Technologies ($114k and $17k).

For the month of April 2019, FanDuel outperformed DraftKings to take $962k in adjusted revenue, creating a tax bill of $144k, compared to figures of $846k and $127k respectively.